An apartment complex developer has purchased a 13-acre site in Chesterfield County for $4.025 million, Commonwealth Commercial Partners LLC announced Friday.
Located at 6767 Iron Bridge Road, the complex will include 230 apartment units, a clubhouse and a pool. Austin Woods Development Co. sold the property to Waverton Development Inc. in a transaction that closed on Aug. 20.
Construction has begun and pre-leasing for the apartment units will begin early next year, with first move-ins scheduled for the second quarter of 2021. Waverton Development Inc. in 2010 also purchased land in Watermark, which is located across the street from the new development, where the company developed the Meridian at Watermark, a 300-unit community.